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ANTOFAGASTA: FY17 PROFIT JUMP TO $1.2B FROM $214.3M

Santiago, Mar 13

Increased copper sales/prices and molybdenum production, offset by a fall in gold/copper output and higher unit cash costs, hasn’t stopped Chile-based miner Antofagasta racking up a big $US1.19B after tax profit for the Dec 2017 year (FY/CY17) from 2016’s $214.3 profit, which included a $386.4M exceptional loss.The result was on revenue up 31.1% to $4.75B, EBITDA up 59.1% to $2.58B and operating cash flow jumping 71.2% to $2.49B on the back of stronger margins and higher sales.